7/04/2012 10:03:00 AM
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Gold MCX Trend
Gold Again closed on lower side and showing selling pressure from last some days. Gold almost down by 0.70% on last trading session. Silver showing some positive trend and traded on plus side by 1.07%.
Copper Live Updates
Copper hit a six-week high on Tuesday, joining a global rally in financial markets on prospects of further monetary easing by central banks, helping to allay worries about the impact of the euro zone crisis.
A surprise rise in top metals consumer China's services sector, which expanded at its fastest pace in three months in June, also lifted market sentiment.
Three-month copper on the London Metal Exchange jumped 2.5 percent to a session high of $7,815 a tonne on Tuesday, its highest since May 22, before paring some of those gains to $7,751 per tonne by 0944 GMT from a $7,625 close on Monday.
Crude Oil Updates
Oil surged to a one-month high on speculation that central banks from Europe to China will ease monetary policy to spur growth while sanctions against Iran curb supply. The European Central Bank is forecast to cut interest rates this week. A state-owned newspaper in China said the time is right to increase liquidity in the banking sector. Iran fired several missiles during a military exercise as it threatened to block tanker traffic in the Strait of Hormuz.
Oil futures for August delivery climbed 4.7 percent to $87.66 a barrel on the New York Mercantile Exchange. Brent oil for August settlement gained 3.1 percent to $100.40 a barrel on the London-based ICE Futures Europe exchange.
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